Category: Industry
Sri Lanka Lighthouse profits up, in deal with boutique hotel
Feb 08, 2011 (LBO) – Sri Lanka’s Lighthouse Hotel has seen December 2010 quarter profit rise sharply from a year ago amid a tourism boom and has struck a deal with a small boutique hotel on the south coast, its accounts showed. The hotel, in which Sri Lanka’s Jetwing leisure group has increased its controlling […]
Sri Lanka tourism product needs facelift to justify price hikes
Feb 08, 2011 (LBO) – Sri Lanka needs to improve the quality of its tourism product and infrastructure to further increase room rates after a post-war rise in rates made the island look expensive, an equities research report said. The country also needs to improve entertainment and shopping in order to break the seasonality of […]
Mendis, Perera fire Sri Lanka to series-clinching win
February 6, 2011 (AFP) – Ajantha Mendis and Thisara Perera shared seven wickets as Sri Lanka posted a 26-run win over the West Indies in the third one-day international on Sunday to clinch the series 2-0. Sri Lanka showed the depth of their bowling line-up by defending their total of 277-9 and restricting the tourists […]
Sri Lanka plans US$90mn sale of east coast land
Feb 07, 2011 (LBO) – Sri Lanka will lease 500 acres of land in the east coast to hotel developers on a one-off payment for around 10 billion rupees (90 million US dollars) and the same model is likely to be followed in the north west Kalpitiya area, an official said. Hong Kong based Shangri-La […]
Sri Lanka island resort project off, says Six Senses
Feb 07, 2011 (LBO) – International luxury hotel chain Six Senses has pulled out of a deal to manage a resort being built on an islet off Sri Lanka’s north-west coast, according to company officials. Shivdasani said another project with Sri Lanka’s Aitken Spence group was going ahead near the southern town of Galle with […]
Sri Lanka Continental Hotel cuts losses
Feb 07, 2011 (LBO) – Sri Lanka’s Continental Hotel, bought by the Hayleys conglomerate last year, has reduced its losses in the December 2010 quarter which marks the beginning of the peak tourism season, latest results showed. The hotel, the island’s oldest 5-star rated property in the capital Colombo, reduced its loss to 1. 8 […]
Oil Spike
SINGAPORE, February 7, 2011 (AFP) – Brent crude prices surged above 100 dollars in Asia on Monday as major regional equities clocked strong performances in their first trading day since the start of the Chinese New Year, analysts said. “Oil was also boosted by US economic figures on Friday that showed jobless rates plunging to […]
Pakistan cricket players charged with corruption
LONDON, February 4, 2011 (AFP) – British prosecutors charged Pakistan cricketers Salman Butt, Mohammad Asif and Mohammad Aamer as well as an agent with corruption offences on Friday as an alleged spot-fixing scandal headed towards the courts. The charges relate to alleged incidents during a Test match against England at Lord’s last year, when Britain’s […]
Tharanga guides Sri Lanka home with ton
February 3, 2011 (AFP) – Upul Tharanga cracked an unbeaten 101 to steer Sri Lanka to an emphatic eight-wicket victory over the West Indies in the second one-day international on Thursday. The left-handed opener hit seven fours in his ninth one-day century as Sri Lanka achieved a rain-revised target of 197 with more than four […]
Gas Blast
Feb 04, 2011 (LBO) – Repair work on vessels in Colombo Dockyard is continuing uninterrupted after an accidental explosion caused by leaking gas that injured 14 workers, a statement said. The yard is repairing two naval vessels, four tankers and a research vessel along with a liquid petroleum gas carrier owned by the Shipping Corporation […]
Sri Lanka apparel industry shrugs off loss of trade benefit
Feb 03, 2011 (LBO) – Sri Lankan apparel exporters are getting enough overseas orders and not been affected as badly as feared by the loss of duty free access to European Union markets, officials said. “Exports are growing moderately,” said A Sukumaran, chairman of the Joint Apparel Association Forum (JAAF), an industry body. “We have […]
Sri Lankan Airlines starts flights to fourth Chinese city
Feb 03, 2011 (LBO) – Sri Lankan Airlines has begun flights to the Chinese city of Guangzhou (Canton), the national carrier’s fourth destination in China, a statement said. The airline said that operations to more cities in China with good frequencies will assist in promoting business and tourism between the two countries. Besides Guangzhou, the […]